Genesis Wealth Advisor Group helps business owners navigate retirement plans and create custom employee solutions.
As a business owner in New Jersey, Scott E. Jones was aware of the state’s RetireReady NJ law, which requires companies with 25 or more employees to offer a retirement plan or participate in the state’s program. However, as similar mandates began to emerge in other states, Scott realized that what started as a local challenge was becoming a nationwide issue. Recognizing the importance of not only meeting legal requirements but also offering a robust retirement plan for employees, Scott decided to lead Genesis Wealth Advisor Group to help business owners navigate these evolving regulations.
The Birth of Genesis Wealth Advisor Group
Genesis Wealth Advisor Group, LLC, was founded with the mission of helping individuals, families, and business owners secure lasting wealth and peace of mind. With more than two decades of experience in financial services, Scott E. Jones, a seasoned Financial Advisor and Certified Financial Planner, has dedicated his career to providing personalized wealth management and estate planning services. Scott recognized that business owners were facing an emerging challenge: navigating retirement plan mandates while ensuring their employees were offered meaningful financial security.
The rise of state-mandated retirement plans like New Jersey’s RetireReady NJ and California’s CalSavers was the catalyst for Scott’s decision to help businesses create better solutions. These state-run plans offered limited flexibility and few benefits, such as no employer contributions or customization options. Many business owners found these options insufficient to attract or retain top talent. Scott saw an opportunity to help clients understand these new regulations and build retirement plans that offered additional benefits.
Overcoming Obstacles and Educating Business Owners
Many business owners, unfamiliar with the growing trend of retirement mandates, faced significant risks. Missing a deadline or failing to comply with laws like RetireReady NJ could result in fines. In New Jersey, penalties can start at $500 per employee for ongoing non-compliance, with even higher costs in other states.
Scott understood that many business owners were so focused on the day-to-day operations of their businesses that they were unaware of changes in retirement laws. “Many business owners don’t realize the stakes until it’s too late,” he said. “Our role at Genesis Wealth Advisor Group is to ensure they’re compliant while offering their employees a retirement plan that goes beyond the state-run options.”
To address this, Scott and his team began educating business owners on their obligations. They helped clients understand the specifics of state laws and worked to design retirement plans that would benefit both the business and its workforce.
Creating a Competitive Advantage
One key service offered by Genesis Wealth Advisor Group is the design and implementation of customized retirement plans. Whether a business is required to participate in a state program or not, Scott believes that offering a tailored solution, like a 401(k) plan, provides greater advantages than the state-run options.
Employer contributions to 401(k) plans are tax-deductible, potentially saving businesses thousands of dollars annually. Additionally, offering a retirement plan with employer contributions serves as an attractive benefit, helping businesses compete for top talent. Employees who know their employer is committed to their financial security are more likely to feel loyal and satisfied.
Genesis Wealth Advisor Group also assists businesses with 401(k) investment advice, ensuring that retirement assets are managed wisely. The firm’s comprehensive wealth planning approach includes tax planning, Social Security maximization, and other factors to secure employees’ financial futures.
The Behavioral Finance Approach
What differentiates Genesis Wealth Advisor Group from other financial firms is its focus on behavioral finance. Scott has spent years studying the psychological and emotional factors influencing financial decision-making. In 2020, he earned his Behavioral Financial Advisor Designation through Kaplan University and Think2Perform®.
“Traditional financial planning often assumes that people make rational decisions,” Scott explained. “In reality, financial decisions are deeply influenced by emotions. By incorporating behavioral finance, we can guide clients toward decisions that lead to better outcomes and greater peace of mind.”
One unique tool used by Genesis Wealth Advisor Group is the “Alignment Model,” which helps clients align their financial goals with their personal values. This approach reduces stress and increases overall happiness by focusing on goals that are personally meaningful.
A Helping Hand in a Complex Landscape
As more states roll out retirement mandates, the requirements vary significantly. For example, California mandates participation in CalSavers for businesses with one or more employees, effective December 31, 2025, for businesses with 1–4 employees. Maryland requires registration by December 31, 2024, and New York is launching a pilot program in 2025.
With different regulations across multiple states, business owners must stay informed and proactive to avoid compliance issues. Genesis Wealth Advisor Group provides ongoing support, managing setup, compliance, and ongoing management of these plans so business owners can focus on running their businesses.
Moving Forward: The Next Step
Whether you’re in New Jersey, California, Delaware, or another state with similar mandates, it’s crucial to stay ahead of regulatory changes and ensure that your business and employees are on track for long-term success. Genesis Wealth Advisor Group, LLC is here to help you navigate the complex landscape of state retirement laws and design a custom solution tailored to your business needs. With a commitment to fiduciary responsibility and a focus on behavioral financial planning, Genesis Wealth Advisor Group offers business owners a comprehensive approach to wealth management that benefits both the company and its employees.
If you’re ready to ensure a secure future for your team, visit Genesis Wealth Advisor Group today to learn more. Connect with us on Facebook and LinkedIn for updates and insights. You can also reach out directly to Scott E. Jones on LinkedIn.
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